International Land Alliance issues Series D convertible preferred to exchange $1.7M+ debt

International Land Alliance Inc.

Enters securities purchase agreement with Six-Twenty Capital to exchange over $1,700,000 in outstanding loans for Series D Convertible Preferred Stock.
Series D has stated value of $100, cumulative cash dividends at 12% per annum plus additional 8% in common stock dividends.
Conversion allowed 18 months after issuance; price is lower of qualified offering price or 80% of 10-day VWAP.
Up to 20,000 Series D shares authorized; mandatory partial redemption at 110% of stated value.
Series D ranks senior to all stock except Series C preferred; exempt from registration under Rule 506.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

International Land Alliance Inc.: Filed Certificate of Designations for Series D Convertible Preferred Stock, authorizing up to 20,000 shares (effective 2023-11-02).

Change: charter amendment
Effective: 2023-11-02

Exact text from the filing

On November 2, 2023, the Company received notice of the effectiveness of its filing of a Certificate of Designations, Preferences and Rights of the Series D Shares with the Wyoming Secretary of State (the “Certificate of Designations”), authorizing the issuance of up to 20,000 shares of Series D Preferred Stock, par value $0.001 per share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

International Land Alliance Inc. entered into Securities Purchase Agreement with Six-Twenty Capital Management LLC valued at Debt: $1,700,000; Preferred Stock stated value: $100.00 per share (effective 2023-11-08).

Action: entry
Agreement: equity purchase
Counterparty: Six-Twenty Capital Management LLC
Value: Debt: $1,700,000; Preferred Stock stated value: $100.00 per share
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, International Land Alliance, Inc., a Wyoming corporation (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Six-Twenty Capital Management LLC (the “Purchaser”) who has advanced loans in excess of $1,700,000 (the “Debt”).

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27 governance changes filed in the last 30 days. Browse all governance changes →

International Land Alliance Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-039944

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